On Thursday, Binance's US subsidiary appointed former Ant Group and Uber CEO Brian Shroder as the president and board member.

Shroder, who has managed operations for Uber and the Chinese financial giant Ant Group in Asia, was named President of Binance US. He will be succeeding Brian Brooks, who resigned abruptly in August after working for four months with the company. 

“Brian Shroder is an accomplished business executive and entrepreneur who has led successful go-to-market strategies for several prestigious and global companies. His substantial experience in strategy, operations, and business and corporate development will be critical as Binance.US seeks to raise external funds to support its rapid growth,” Changpeng Zhao (CZ), Chairman of the Board of Binance.US, stated.

The appointment of Shroder, who held senior management positions at Ant Group and Uber, is to oversee the exchange’s strategy and execution, funding, product functions, and corporate development, as well as the Legal, HR, and Technology areas. 

He formerly served in a similar position as a Head of Strategy and Business Development at Uber in Asia, where he successfully established collaborations with third parties and raised billions of dollars from investors.

Shroder, who now works at Binance said the company has the potential to become the largest crypto firm in the United States: “In under two years, Binance.US has established itself as a regulatory compliant, profitable enterprise that serves millions of customers across the country. Having previously worked for several hyper-growth companies, it is clear to me that Binance.US has all the right ingredients to become the largest and most successful cryptocurrency and digital asset exchange in the United States.”

Binance's recent appointment of the new President follows repeated indications by Changpeng Zhao that its US branch might become the latest publicly traded firm. 

The company is building necessary business connections and attracting investment to assist its long-term growth and also getting closer to a potential IPO following Coinbase’s lead.

Pavan A

CBW - External Analyst

INDIA